Leucrotta Exploration Inc. Announces Completion of Its Plan of Arrangement
Calgary, Alberta--(Newsfile Corp. - May 31, 2022) - Leucrotta Exploration Inc. (TSXV: LXE) (the "Corporation") announces that the Corporation has completed its previously announced plan of arrangement (the "Arrangement") involving the Corporation, Coelacanth Energy Inc. ("Coelacanth"), Vermilion Energy Inc. ("Vermilion") and the holders of Securities (as defined below). For further details regarding the Arrangement please refer to the Corporation's press releases dated March 28, 2022 and May 24, 2022, copies of which can be found under the Corporation's SEDAR profile at...
2022-05-31 4:38 PM EDT
Leucrotta Announces Q1 2022 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - May 26, 2022) - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months ended March 31, 2022. All dollar figures are Canadian dollars unless otherwise noted.HIGHLIGHTSCompleted gas processing and battery funding agreements with NorthRiver Midstream Inc.Increased production 63% from 2,695 boe/d in Q1 2021 to 4,384 boe/d in Q1 2022.Increased adjusted funds flow (1) by 194% from $3.8 million in Q1...
2022-05-26 6:00 AM EDT
Leucrotta Exploration Inc. Announces Securityholder Approval of the Plan of Arrangement at Special Meeting and Provides Transaction Update
Calgary, Alberta--(Newsfile Corp. - May 24, 2022) - Leucrotta Exploration Inc. (TSXV: LXE) (the "Corporation") announces that the Corporation's Securityholders (as defined below) approved the previously announced plan of arrangement (the "Arrangement") involving the Corporation, Coelacanth Energy Inc. ("ExploreCo"), Vermilion Energy Inc. ("Vermilion") and the Securityholders at a special meeting of the Securityholders held on Friday, May 20, 2022 (the "Meeting").The special resolution approving the Arrangement was approved by approximately: (i) 100% of the votes cast by the holders (the "Shareholders")...
2022-05-24 11:05 AM EDT
Leucrotta Announces Q4 2021 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - April 21, 2022) - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2021. All dollar figures are Canadian dollars unless otherwise noted.HIGHLIGHTSAchieved production of 5,000 boe/d in late Q4/21 and exited December 31, 2021 with approximately 4,500 boe/d of production. Estimated production for Q1/22 average is approximately 4,300 boe/d.December 31, 2021 adjusted working capital...
2022-04-21 6:00 AM EDT
Leucrotta Exploration Inc. Announces Strategic Transaction with Vermilion Energy Inc. and Creation of a New Pure-Play Montney Company
Calgary, Alberta--(Newsfile Corp. - March 28, 2022) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce that it has entered into an arrangement agreement (the "Agreement") pursuant to which Vermilion Energy Inc. ("Vermilion") will acquire all of the issued and outstanding securities of Leucrotta ("Leucrotta Shares") for an aggregate consideration of approximately $500 million, excluding value assigned to the newly formed Montney company ("ExploreCo"). The transaction will be accomplished by way of a statutory plan...
2022-03-28 7:57 AM EDT
Leucrotta Exploration Announces Update on Business Plan Including Gas Processing and Mica Battery Funding Arrangements, Expansion of Mica Project into Alberta, and Commencement of Drilling Program
Calgary, Alberta--(Newsfile Corp. - March 17, 2022) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") has previously announced a Plan to reach 30,000 boepd within a five-year time frame. The accomplishments outlined below will assist in accelerating the development and provide greater clarity on funding and timeline to achieve those goals:Gas processing arrangement noted below along with currently owned facilities provides Leucrotta with enough gas processing to reach an interim goal of approximately 25,000 boepd.$55 million infrastructure funding allows Leucrotta...
2022-03-17 6:00 AM EDT
Leucrotta Exploration Announces 2021 Year-End Reserves
Calgary, Alberta--(Newsfile Corp. - March 16, 2022) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its 2021 year-end reserves as independently evaluated by GLJ Ltd. ("GLJ") effective December 31, 2021 (the "GLJ Report"), in accordance with National Instrument 51-101 ("NI 51-101") and the Canadian Oil and Gas Evaluation ("COGE") Handbook. All dollar figures are Canadian dollars unless otherwise noted.IntroductionDuring 2021, Leucrotta made the strategic decision to sell its Doe property for gross proceeds of $30.0 million,...
2022-03-16 6:00 AM EDT
Leucrotta Exploration Inc. Announces Grant of Incentive Stock Options and Restricted Share Units
Calgary, Alberta--(Newsfile Corp. - January 13, 2022) - Leucrotta Exploration Inc. (TSXV: LXE) (the "Corporation") announces that its board of directors (the "Board") has approved the granting of incentive stock options ("Options") under its stock option plan to certain of its directors and officers to acquire up to an aggregate of 2,150,000 common shares of the Corporation ("Common Shares") and the granting of Options to certain of its employees and consultants to acquire up to an aggregate of 590,000 Common Shares...
2022-01-13 4:58 PM EST
Leucrotta Exploration Announces Results of Phase 1 Mica Pad Development
Calgary, Alberta--(Newsfile Corp. - December 9, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce that its 4-well Montney Phase 1 Mica Test Pad is fully on production and has produced an average rate of approximately 1,700 barrels of light oil per day and 10 mmcf/d of liquids-rich gas per day for a total Pad production rate of 3,300 boepd over the last 10 days. Leucrotta's 2021 exit rate production is estimated at 5,000 boe/d after adding...
2021-12-09 6:00 AM EST
Leucrotta Announces Q3 2021 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - November 17, 2021) - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2021. All dollar figures are Canadian dollars unless otherwise noted.HIGHLIGHTSDrilled 4-well pad at Mica, BC expected to be completed in Q4 2021.September 30, 2021 adjusted working capital (1) balance of $45.5 million.Increased adjusted funds flow (1) by 231% to $1.9 million in Q3...
2021-11-17 6:00 AM EST
Leucrotta Announces Q2 2021 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - August 26, 2021) - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three and six months ended June 30, 2021. All dollar figures are Canadian dollars unless otherwise noted.HIGHLIGHTSIncreased adjusted funds flow (1) by 209% to $0.9 million in Q2 2021 from negative $0.8 million in Q2 2020.Closed the sale of certain natural gas assets located in Doe, BC for gross proceeds...
2021-08-26 6:00 AM EDT
Leucrotta Announces Grant of Incentive Stock Options and Summary of Stock Option Plan Update
Calgary, Alberta--(Newsfile Corp. - August 4, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") announces that its board of directors has approved the granting of incentive stock options ("Options") under its stock option plan to certain of its directors to acquire up to an aggregate of 100,000 common shares ("Common Shares") of the Company.All of the Options are exercisable for a period of five years at a price of $0.77 per Common Share and 33⅓% of the Options will vest...
2021-08-04 5:23 PM EDT
Leucrotta Exploration Shareholders Approve All Resolutions at Annual and Special Meeting
Calgary, Alberta--(Newsfile Corp. - June 29, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce it has completed its Annual and Special Meeting with Shareholders approving all resolutions. For more information, a copy of the management information circular dated May 25, 2021 is available on the Corporation's SEDAR profile at www.sedar.com.Leucrotta welcomes newly elected directors Harvey Doerr and Raymond Hyer to its Board and would like to thank long-standing director Brian Krausert, who did not stand...
2021-06-29 5:03 PM EDT
Leucrotta Announces COVID-19 Capacity Restrictions for Annual and Special Shareholder Meeting
Calgary, Alberta--(Newsfile Corp. - June 25, 2021) - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is announcing that it has received notice from the Calgary Petroleum Club, the host venue of its annual and special meeting (the "Meeting") of holders (the "Shareholders") of voting common shares in the capital of the Company ("Common Shares") to be held on June 29, 2021 at 10:00 a.m. (Calgary time), that due to ongoing provincial health restrictions resulting from the SARS-CoV-2 novel...
2021-06-25 6:00 AM EDT
Leucrotta Exploration Announces Closing of Private Placement
Calgary, Alberta--(Newsfile Corp. - June 22, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce that it has closed its non-brokered private placement offering previously announced on June 15, 2021 (the "Private Placement") of 1,870,000 units of the Company (the "Units") at a price of C$0.73 per Unit for gross proceeds of C$1,365,100. Each Unit consisted of one common share issued on a flow-through basis in respect of Canadian development expenses (CDE) under the Income Tax Act...
2021-06-22 5:00 PM EDT
Leucrotta Exploration Announces Details of Phase I Mica Pad Development and Test in Basal Montney Zone
Calgary, Alberta--(Newsfile Corp. - June 15, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce it will commence operations of Phase I of the Mica Pad Development mid-July and should be on production by mid to late October. The first Pad will consist of 4 wells with 3 placed into the Lower Montney and one placed into the Basal Montney. The wells will have horizontal lengths of 2400 metres and be completed...
2021-06-15 6:00 AM EDT
Leucrotta Announces Q1 2021 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - May 27, 2021) - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months ended March 31, 2021. All dollar figures are Canadian dollars unless otherwise noted.HIGHLIGHTSClosed a bought-deal public financing issuing 45.2 million units of the Company ("Units") at a price of $0.73 per Unit for gross proceeds of $33.0 million. Each Unit is comprised of one common share of...
2021-05-27 6:00 AM EDT
Leucrotta Announces Q4 2020 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - April 28, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2020. All dollar figures are Canadian dollars unless otherwise noted. FINANCIAL RESULTS...
2021-04-28 6:00 AM EDT
Leucrotta Exploration Announces 2020 Year-End Reserves
Calgary, Alberta--(Newsfile Corp. - April 28, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its 2020 year-end reserves as independently evaluated by GLJ Ltd. ("GLJ") effective December 31, 2020 (the "GLJ Report"), in accordance with National Instrument 51-101 ("NI 51-101") and the Canadian Oil and Gas Evaluation ("COGE") Handbook. All dollar figures are Canadian dollars unless otherwise noted.IntroductionDuring 2020 and early 2021, Leucrotta made the decision to focus future capital primarily on the Mica Project...
2021-04-28 6:00 AM EDT
Leucrotta Exploration Announces Closing of Previously Announced Asset Sale
Calgary, Alberta--(Newsfile Corp. - April 1, 2021) - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce that, further to its press release dated March 15, 2021, it has closed the previously announced disposition of 10.25 sections of non-strategic Montney lands (the "Asset Sale"), comprising approximately 5% of Leucrotta's Montney land base, for aggregate consideration of $30.0 million. The Company intends to use the proceeds from the Asset Sale to repay debt, advance the initiation...
2021-04-01 4:28 PM EDT